Episode 147: Multiple Streams of Income for Authors

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In this week’s episode, Angeline, Holly & Julia discuss how you can create multiple streams of income in your author business.

We cover:

Regular subscriptions, like Patreon
Irregular payments, like Ko-Fi, courses, and podcasting
One-off injections, like awards and grants
Full-on side-hustles, like formatting or coaching

Listen on your favourite platform HERE.

Author Streams of Income

Regular Incomes (subscriptions)
- Patreon
- Substack
- Twitch streaming
Irregular Incomes
- Book sales on own site
- Book sales at live events
- Having multiple versions of your book (i.e. audiobook)
- Creating and selling a course
- Donation sites such as Ko-fi or Buy me a Coffee, etc
- Podcasting income
One-off Incomes
- Arts grants
- Crowdfunding Campaigns
- In-person events/speaking/appearances
- Competition wins

Side-Hustles

Editing/proofreading/manuscript critiques etc
Freelance writing
Ghost writing
Paid-for Reviews
Book formatting
Cover design
Social media management/marketing services
Virtual assistant
Coaching
Anything else you’re good at or enjoy doing

Top Tips

Consider not fully relying on income linked to your time. You only have so many hours in the day. Finding passive ways to make money can be a real bonus.
Regular income streams make it easier to plan and budget, because you know what’s coming in and when, whereas irregular income is always going to be an unknown.
Don’t stretch yourself too thin! Focus on more reliable streams rather than always chasing the new, shiny things.
Remember that all income streams require marketing, so factor in extra time for that.

Mentioned in This Episode

Julia’s Side Hustle: Evenstar Books
Angeline’s Side Hustle: Magpies & Make Believe

Resources

Patreon

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Unstoppable Authors on Patreon

Music credit:
Rogue One by Serge Narcissoff | https://soundcloud.com/sergenarcissoff
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Creative Commons Attribution-ShareAlike 3.0 Unported https://creativecommons.org/licenses/by-sa/3.0/deed.en_US